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IDBI Bank cuts BPLR by 0.25%

Mumbai, June 26, 2009

After State Bank of India cut its benchmark prime lending rate by 0.50 per cent yesterday, another lender, IDBI Bank, cut its BPLR by 0.25 per cent.

With this, the bank's BPLR stands at 12.75 per cent from 13 per cent earlier.

The reduced rate will come into effect from July 1, a release here stated.

The reduction will apply to all loans linked to BPLR, including home loans, the bank said.    

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